PTC (NASDAQ:PTC) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other research analysts have also recently commented on the company. Robert W. Baird raised their price target on PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Oppenheimer decreased their price target on PTC from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Piper Sandler decreased their price target on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 price objective on shares of PTC in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

PTC Stock Up 0.5%

PTC stock opened at $173.24 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 2.27 and a beta of 1.19. The business’s fifty day moving average price is $155.32 and its two-hundred day moving average price is $173.85. PTC has a fifty-two week low of $133.38 and a fifty-two week high of $203.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The company had revenue of $636.37 million for the quarter, compared to analysts’ expectations of $608.64 million. During the same quarter last year, the business earned $1.46 earnings per share. PTC’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that PTC will post 4.46 earnings per share for the current year.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares of the company’s stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the transaction, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank Pictet & Cie Europe AG lifted its stake in shares of PTC by 1.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after acquiring an additional 55 shares during the period. Brooklyn Investment Group lifted its stake in shares of PTC by 15.5% in the first quarter. Brooklyn Investment Group now owns 439 shares of the technology company’s stock worth $68,000 after acquiring an additional 59 shares during the period. Wahed Invest LLC lifted its stake in shares of PTC by 2.1% in the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company’s stock worth $539,000 after acquiring an additional 61 shares during the period. Allworth Financial LP lifted its stake in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of PTC by 1.9% in the first quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company’s stock worth $582,000 after acquiring an additional 70 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.